Ontario Teachers' Pension Plan and Boreal IM Expand European Portfolio with French and German Acquisitions
Deal News | Nov 18, 2024 | Boreal
The Ontario Teachers' Pension Plan, in collaboration with Boreal IM, has expanded its logistics assets portfolio with the acquisition of significant properties in France and Germany. The transaction includes three fully leased logistics assets totaling 149,000 sqm around Paris, France, and a 46,000 sqm warehouse in the Ruhr region of Germany, elevating their total holdings to 1.3 million sqm across Europe. A focal point of the French acquisitions, Bussy Saint Georges, is a major logistics and e-commerce hub, while the German asset south of Dortmund enhances the JV's strategic positioning in a densely economic region. These acquisitions mark Ontario Teachers' and Boreal IM's third major investment in France over two years, as they continue a strategy focused on prime locations with strong supply-demand dynamics. The overall value of the JV's European portfolio is now reported at €1.6 billion.
Sectors
- Real Estate
- Logistics
- Private Equity & Investment Management
Geography
- France – Three logistics assets were acquired near Paris, marking a significant investment in the French market.
- Germany – A 46,000 sqm warehouse was acquired in the Ruhr region, a strategic economic area in Germany.
Industry
- Real Estate – The transaction involves the acquisition of logistics real estate assets in France and Germany.
- Logistics – The assets acquired are logistics and warehousing facilities, a key component of supply chain management.
- Private Equity & Investment Management – The deal involves a joint venture between a private equity firm and a pension plan to manage investment properties.
Financials
- 1.6bn GAV – Total Gross Asset Value of the JV's European portfolio after the acquisitions.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ontario Teachers' Pension Plan | Investor | Company | A major Canadian pension fund involved in this joint acquisition. |
| Boreal IM | Investor | Company | A private equity firm partnering with Ontario Teachers in this transaction. |
| Bussy Saint Georges | Asset | Location | An 84,000 sqm logistics center in France, part of the acquired portfolio. |
| Lagny-le-Sec | Asset | Location | A 42,000 sqm logistics facility in France, included in the acquisition. |
| Canly | Asset | Location | A 23,000 sqm logistics hub in France, acquired in the transaction. |
| Rhine-Ruhr Region Warehouse | Asset | Location | A 46,000 sqm warehouse in Germany, strategic for logistics operations. |